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The entry to close the expense accounts is. Fitness Ctr Adjusted trial Balance Dec 31, 20x1 Account Cash A/R Debit Credit 20,000 35,000 A/P
The entry to close the expense accounts is. Fitness Ctr Adjusted trial Balance Dec 31, 20x1 Account Cash A/R Debit Credit 20,000 35,000 A/P Supplies PPD Ins Buildings A/D-Blds Common Stock Retained Earnings 14,000 4,000 391,000 111,000 21,000 120,000 90,000 Dividends 10,000 Service Revenue 225,000 Interest Revenue 5,000 Depreciation Expense 27,000 Salary Expense 51,000 Supplies Expense 20,000 Totals 572,000 572,000 Depreciation Expense 27,000 a) Salary Expense 51,000 Supplies expense 20,000 RE 98,000 b) Total Expenses 98,000 RE 298,000 RE c) 98,000 Depreciation Expense 27,000 Salary Expense 51,000 Supplies expense 20,000 d) RE 98,000 Total Expenses 98,000
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